it is 5:00 a.m. here at cnbc global headquarters. here is the "five@5. looming debt ceiling and what janet yellen says could be a disaster. and big tech push back in the eu a group of five companies and what it is telling brussels.

and bracing for the storm. our guest telling some to go for portfolio protection. and warren buffett weighing in on apple to the banking crisis we have all that ahead it is monday, may 8th, 2023. you are watching "worldwide exchange" here on cnbc good morning welcome to "worldwide exchange." i'm frank holland. let's check on the u.s. stock futures. looking at futures this morning. pretty much flat s&p actually unchanged dow jones industrial average is higher the nasdaq is lower. we want to check the bond market we begin with the 10-year treasury at 3.43 we see the 2-year treasury below 4% that yield is a story we continue to watch. a lot of investors turn to the bond market for safety we are watching energy action in the energy market this morning. we are seeing the u.s. benchmark

wti above 7$70. a lot look to see this as recession fears are easing brent crude is about $76.50 and up 1.5%. the biggest move in natural gas up 2.25% we are watching crypto bitcoin and ethereum we are seeing bitcoin below $30,000. down 4% this morning ethereum is back below $2,000. down 4% this morning let's check on the top corporate stories with bertha coombs bertha, good morning >> good morning, frank ahead of the june 1st deadline day and tomorrow's white house summit, 43 senate republicans led by mike lee say they oppose voting on a bill that raises the u.s. debt limit without tackling other priorities adding the u.s. economy is in a quote freefall this as treasury secretary janet

yellen said not raising the debt limit could have dire consequences >> we do need to raise the debt ceiling to avoid economic calamity we would not have enough cash to meet obligations it is widely agreed that financial and economic chaos would ensue. warren buffett says he is happy with his current stake of occidental he spoke with investors at the annual shareholder meeting in omaha, nebraska. >> we will not be making any offer for control of occidental. we love the shares we have we may or may not own more in

the future we have part of the original deal on a substantial amount of stock around $59 a share i'm glad we have them. >> frank, the current stake in occi stands at 23%. and alibaba's logistics arm planning to raise $2 billion in a public offering next year. the company revealed plans in march to split into six businesses with some becoming their own publicly traded companies. we will see how that goes, frank. >> alibaba shares up in the pre-market bertha coombs, we will see you later on turning attention back to the broader markets. traders and investors now believe the fed is done hiking rates. the fed watch tool is pricing in a 92% chance of pause at the next meeting in june

morgan stanley views that aste aste as tricky. following the final head hike, but that is not the case as the curve is yielding. the ship is still moving pretty fast through the water let's talk more with jeremy schwartz at wisdomtree >> thank you, frank. >> let's bounce this off you the thesis about stocks, especially the s&p bouncing after the pause, but not exactly when we have inverted yield cu curve. agree? >> the inverted yield curve is a sign and one of the best signs of recession inverted yield curve predicted all of the recessions in the last century that is the worrythat the fed

is being overly tight. we have been saying that for a while. we would like them to be cutting and now the bar for raising rates further is high. the bar for cutting might also be high. our view is inflation is on its way down the fed should be cutting. the longer they stay too tight, the more tricky and deeper the recession could be it is all about earnings over time people get pessimistic now when earnings are falling and fear recession and depressed earnings we tell people to look past the depressed earnings and say what is the steady state earnings the market is not overly expensive. >> jeremy, i have to push back on one thing you are talking about p earnear earnings -- about earnings.

q1 earnings, 75% better. if you are talking about earnings and we see the beats, what does that make you think about the market going forward >> people have brought down expectations earnings were down last year they will be down again this year there is already an earnings recession. typically beat they almost always beat. people bring down the expectation. we are selling 18 times the s&p of this year's earnings. so, people fear in a doomsday recession and apply a 15 multiple to that that's where you get a 3,000 that is what people get pessimistic on you can bring the multiples up there is a case that productivity has been pretty bad if we get rid of the less productive workers and productivity goes up

margins stay that's the bold case for looking past recession. >> jeremy, you mentioned a d doomsday scenario. the debt ceiling is there any place you recommend to go to the portfolio for protection with the debt ceiling crisis we are facing >> you talk about the yields very few things yielding over 5% what is fascinating about the current market is floating rate treasuries with a one-week reset, i checked this morning and yielding at 5.30%. that is significantly lower. you showed almost 200 basis points lower not quite that much. inverted yield curve makes that short-term treasury interesting because the fed is too tight and you get extra yields in

short-term treasuries. i love them more than ever in that sense of 5.30% on the short end. yields will go down with the fed cutting. 5.30% is a very good place to be you say what could do well in a risk-off scenario? gold is creating light bonds it has other futures of people going to that if they fear different currency moves gold is a nice bastian for a fallout. >> jeremy, we have to leave the conversation i'm sorry to cut you off one of your picks is the u.s. product. great to have you on you are a west philly guy like me thank you. >> great game yesterday, frank more to come here on "worldwide exchange," including the one word that investors have to know today. plus, tracking the regional bank bounce back after a secretary

tore -- sector of beaten down names. we speak with one ceo about the state of the space. later, big tech pushback what a group of five companies are telling brussels over a new set the rules. we speak to one ceo who signed that letter to regulators. more on warren buffett and one of his biggest holdings, apple. a very busy hour ahead on "worldwide exchange. stay with us trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley. ♪

♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ and this is ready to go online. ♪ any questions? -yeah, i got one. how about the best network imaginable?

let's invent that. that's what we do here. quick survey. who wants the internet to work, pretty much everywhere. and it needs to smooth, like super, super, super, super smooth. hey, should you be drinking that? -it's decaf. because we're busy women. we don't have time for lag or buffering. who doesn't want internet that helps a.i. do your homework even faster. come again. -sorry, what was that? introducing the next generation 10g network only from xfinity. the future starts now.

welcome back to "worldwide exchange." turning to the top global hot spots. areas around the world that could impact your market and your money two developments this morning. the chief executives of two companies of siemens and s.a.p. is pushing back at brussels over personal data saying the draft of the data act would force them to give up trade secrets and give an advantage to china as for china, despite beijing's efforts, a growing number of western companies are fearful about building businesses in the second largest economy this as xi jinping prepares to revamp an espionage law. full coverage of both issues this morning from the company headquarters in germany is the ceo of medical tech firm

brainlab and one voicing concerns in the letter to eu regulators in brussels we have eunice yoon as well. stefan, thank you for joining us >> good morning. >> let's get to it you signed the letter with s.a.p. and siemens ceos. what is your big issue with the regulation >> the companies are required to design every product to have a direct link to data produced by such advice. the idea is, for example, airplanes would share all data from data and it is fundamentally, but the eu is requiring every company to share all data with the data holder. the idea is that is generating a more fair distribution of access

to data and basically enhance rights of the data holders however, i think, it would reveal a lot of industry know how and particularly with china as you said as an example, china is enhancing and increasing the business along the products they produced in the past by forcing all european companies to reveal all of the data produced by devices to the users that can share with any other company, that would give insight to value chain and enable people to have a right to that. >> if this data goes to the data holder supported by the eu, how does china get a hold of the data >> first of all, the user of the device would have the right to

access that data for example, you know, a company, chinese company with european headquarters, would solicit a service contract requiring the data user to share and reveal the data with that company. this is an easy way to get that. for example, if you include that in amazon prime membership, for example, amazon would easily be able to get all of the data. they only need to increase the contract to give me all the data and that gives them access to the data the amazon and others bar from getting the data, but others could bundle agreement to access the data and learn in detail how a product works and processes work >> under ststood.

i want to talk about the digital markets act. how is this regulation impacting your ability to come p-- to compete? >> in europe, we are facing a number of regulations. the european data space and data markets act. a.i. act some regulations contradict each other. instead of being able to, you know, fully develop its businesses, we now are more or less part of several use cases and i think the u.s. is extremely liberal. that makes us difficult to play on an even level playing field the idea of the eu commission is the european businesses would achieve a better access to data which is a good idea, but by having regulation, then that

would make it difficult to achieve that the idea is right, but an overregulation. >> we have to leave the conversation there i hope if there is a big development, you come back and let us know. stefan, thank you for being here let's turn to the issues in the west with eunice yoon standing by in beijing. >> reporter: good morning, frank. it is not just the u.s. and in the west, but in china officials are saying the country is open for business the authorities continue to clamp down simultaneously on access to foreign firms as well as anyone else outside of the country. financial data provider commonly used by wall street firms and financial institutions kucurbed

some of the access to foreign users. it told us today outside china, users have to use an overseas version where the data as well as indices are not accessible to those outside. also china's largest academic database which houses a wealth of publications as well as scientific papers dating back to 1915 that database curbed access to foreign users last month to keep comply ant last -- compplicomple all of this data and auditors are facing pressure. just last week, officials warned state firms as well as other mainland listed tops to be careful over who to choose to be

auditors this is among firms which had to face local police raids on their operations here. all of that, frank, really unnerving the folks in the foreign business community the amgen chief said the concern people have is lack of transparency around the developments >> eunice yoon, thank you for that report. turning to the news alert here in the u.s. the white house revealing president biden is looking to create rules around airlines rules requiring the carriers to compensate passengers for significant delays or cancellations. this comes on the back of the holidays where the delays and cancellations created chaos. airline stocks down this morning. southwest is down 1% that was at the center of the holiday issues american airlines up 2%. still ahead on "worldwide exchange," in inside the issues

with the bkianng sector. more on "wex" when we come back in a moment.

woelcome back to "worldwide exchange." a major sector comeback on friday with the kbe and kre both snapping four-session losing

streaks. leading the charge on friday, pacwest and zion up between 17% and 82% one regional bank finishing the week uniscunscathed. synovus. a solid balance sheet has helped them out the ceo and president of synovus is joining me now. >> thank you, frank. >> we with have you on later to. we have to talk about the banking sector the stocks moving up and down. how does that impact your business and your deposits >> over the last quarter, we had a lot of questions and negative narratives existing in our

space. that allowed us to get in front of clients to talk about the stability of liquidity of the message was keep the deposits we were up 2%. the message is it is all about a relationship if you have been with an institution for a long period of time, and our average account is 18 years it allows you to keep deposits and people see negative narratives and they ask questions to make sure the bank is safe. they are sticking with us because they choose us because we are providing a level of service and value they are not receiving from other institutions the first was liquidity and deposits and now it is about profitability. people are questioning what rates are paid on deposits and mixed shifts out of non-interest bearing and into bearing

interest it went from liquidity story to profitability story. >> certainly key factors there i want to talk about 2:00 p.m. today with the loan officer survey senior loan officers give takes on the loans what are you expecting and what are your credit conditions are you loaning? >> we are lending money. the survey in january showed there were tightening standards overall. there was more of a pronounced tightening on the commercial real estate side banks are being prudent at this time and so are the clients. demand for cre lending was off 60% in the first quarter it was showing tightening on the credit side. conversely on the cni front, we saw a 13% decline of quarter over quarter production. pipelines have come down, but it

still remains fairly robust. it speaks to the fact if you had a strong client base like we have in the southeast, population inflows and economy is still robust. there is still a need for many clients to continue to borrow. where you see a slowdown is on transactions cre, corporate m&a we are open for business we want to give to the clients when they need it to achieve financial goals. >> we are looking at the footprint of the bank right now. 245 branches in the southeast united states. the debt ceiling and crisis and negotiations with the white house holding a meeting with congressional leaders tomorrow how does the debt ceiling impact your business? >> we want to see that passed. we don't want more financial instability. you mentioned it earlier what is happening in the banking space today is less about what the banks are doing with the

fundamentals short selling is pushing some sti institutions down. we need to grow our bank profitable we want a back drop that is more consistent to do what we do best >> kevin blair, thank you. still ahead on "worldwide exchange," janet yellen warning of a catastrophe with a debt ceiling issue is not revolved. more on "worldwide exchange" coming up. i'm bill lockwood, current caretaker and owner. when covid hit, we had some challenges like a lot of businesses did. i heard about the payroll tax refund, it allowed us to keep the amount of people that we needed and the people that have been here taking care of us.

see if your business may qualify. go to getrefunds.com.

5:30 a.m. in the new york city area. we are just getting started on "worldwide exchange. a big week for the markets as the earnings parade continues and investor attention with the fresh read on inflation. a catalyst for the markets is the debt ceiling standoff and warning from janet yellen. we layout the impact to your money. the oracle of omaha offering an optimistic view with the a annual shareholder meeting it is monday, may 8th.

welcome back to "worldwide exchange." let's pick up with the check on the stock futures. looking at the futures and this is not it. we with will show y-- we will show you the futures in a second the dow has popped if it opened right now, it is open 1 point higher. the nasdaq is still in the red we want to hit oil we see movement with the oil market we look at the oil market and it is up this morning recession fears are declining a bit. we are seeing oil up 2% this morning. wti crude at $72.70. brent crude is up 1.5% the big move is natural gas up 2%. let's check on the top stories with bertha coombs

>> thanks, frank google the iis looking to lean n a.i. according to the wall street journal, the company is looking to move away from presenting results when a user searches something with the blue links. instead, google wants to use a.i. features like chat with more social media posts and short videos within search results. i hope to opt out of those. the ceo of sofi stepping up to buy off the stock according to the s.e.c. filing, buying 50,000 shares of sofi stock on thursday. this is not the first purchase of sofi shares this year he bought 45,000 shares following the collapse of

silicon valley bank in march and nelson peltz setting his sights on a new target for proxy fight. according to the post, the investor is looking at a possible shake up at estee lauder of olaud la lauder he could oust the current ceo and look for a turn around and sale frank, if he could make it so they don't cancel my favorite lipstick, might be for it. that's always the issue. find a lipstick and then they eliminate it >> the issue for every company keep your customers happy. turning attention to washington and the political battle over the debt ceiling and reaching a deal to avoid default. 43 senate republicans and

including mitch mcconnell saying they will oppose the democrat plan to vote on the bill that only raises the borrowing limit without addressing other matters like spending and budget reforms. in the meantime, janet yellen sounding the alarm repeating the warning that if they are not able to reach the deal in the matter in the next few weeks. >> we do need to raise the debt ceiling to avoid economic kmam -- calamity we would not have enough to meet our obligations. it is widely agreed that financial and economic chaos would ensue. >> scary words there for more, let's bring in jimmy pethokoukis who is our cnbc contributor. great to see you. >> great to see you. secretary yellen getting us woken up with that warning >> that was a harsh alarm clock,

jim. let's get to the heart of the matter how serious is the risk of default that would be catastrophic for the u.s. and big global economic impact >> obviously, the risk would would be zero. it is not zero the good news here is that there are going to be negotiations the president can say there are two tracks one doesn't have necessarily to do with the other. they can negotiate on a budget deal and raise the debt ceiling. obviously, they are linked that's the good news what worries me is i just don't know what the agreement looks like at the end of the day i found it concerning. i saw a tweet by jay son furman saying we should look at the ideas like minting the coin. we should look at that

there may be worse options i'm more concerned than what i should be. i should be zero concerned. >> before we wdip into the plans i want to look back at the 2011 debt ceiling crisis. we saw a lot of market turb turbulence the s&p dropped 17% according to the data at cnbc what is the potential impact from the tuesday meeting if we don't see some type of agreement or framework of agreement coming out of the deal? >> listen, that's a great point. often times we talk about the debt ceiling we say at the end of the day, markets force action you know, right at the very end. it doesn't have to be at the end. there could be turbulence leading up to it i think people coming out of meetings saying not only with

much progress, but not willing to talk about a temporary extension to talking about additional negotiations. i can think of ted cruz and elizabeth warren off the top of my head saying that. to not give on that and have that happen, i find worrisome. >> jimmy, the wall street journal had an article out saying the short-term extension is not our plan. is that the most likely outcome? >> that would be a reassuring outcome. i find that statement to be lawyerly i think they would probably would go for that at this point. if that is not going to happen, that means negotiations could be highly compressed. i think that raises the threat level a notch or two

>> jimmy p., you did not help me >> she put me in a concerned mood >> jimmy pethokoukis, thank you. catch treasury secretary janet yellen talk about the debt ceiling talks at 4:00 p.m. today. coming up, a weekend with warren becky quick breaks down warren buffett's insights on the stock every investor owns. and guardians kicking off the summer season with a$114 million domestic box office debut. that makes it the second biggest opening weekend of the year behind "super mario brothers" movie with $146 million opening. and a check signed by steve

jobs for $175 is up for auction. chaarl's jr. is now lookingt roll out a.i. drive-thru ordering it has been tested in certain locations. it exceeded speed of service and customer experience. we have more "worldwide exchange" coming back in a moment - what? - especially when it comes to your finances. - are you a certified financial planner™? - i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®.

hi, i'm todd. i'm a veteran of 23 years. i served three overseas tours. i love to give back to the community. i offer what i can when i can. i started noticing my memory was slipping. i saw a prevagen commercial and i did some research on it. i started taking prevagen about three years ago. i feel clearer in my thoughts, my memory has improved and generally just more on point. prevagen. at stores everywhere without a prescription.

welcome back tens of thousands of investors in omaha for the shareholder meeting to hear from warren buffett and charlie munger holding court for five hours on saturday they talked about the debt ceiling to the health of the american banking system to the investments berkshire holds. becky quick is live in omaha with more. good morning, becky. >> clever, frank i like it apple of his eye it is the biggest holding. berkshire holds 900 million shares of apple. the value of $159 billion. that is a good reason to come here tim cook was here on saturday.

he was here for the meeting and got a chance to talk to mr. buffett before the meeting he went out to go ahead and hear the praise tim cook has been coming here every year since they found out berkshire starting to acquire a stake in the company i talked to him friday night he likes to be here and see what is going on. mr. buffett calling apple a better business than any of the subsidiaries thanks to consumers' need for the product. >> apple has a position with consumers where they are paying, you know, maybe $1,500 or whatever, for a phone and same people pay $35,000 for having a second car if they had to give up a second car or the iphone, they would give up their car. we don't have anything like that which we own 100% of, but we're

happy to have 5.6% or whatever it may be. we're delighted. it is like adding $100 million to the share of the earnings they use the earnings to buy out our partners >> that begs the question of why they haven't bought more berkshire has $130 billion of cash on hand it could also buy more if it chose. they didn't talk about the holdings this weekend. we will learn what the company is up when the 13fs are filed a week from today. we know buffett is not selling apple. he sold a few years ago for tax purposes and that move was a mistake. >> becky, fascinating. i'll give you kudos. you did a great job. >> thank you, frank. >> you almost got upstaged by the little girl.

warren -- >> there were five teenagers or younger who made it to the mic they wherere all good they spent time watching him they gave us a run for the money. s>> another topic of conversation, becky, electric vehicles we are getting word that berkshire is selling $159 million in byd >> that is news. frank, he was asked about several holdings i asked those questions. he said we're not going to tell you what we hold you have to find out when the quarterly statements are filed you have to find out and read along like everybody else. byd is a company they sold down their stake. they got this for a low price. it has run up wildly they have sold some off over

time stella lui was here. she has been out at every meeting since they first started investing back in the early 2000s in byd it is still a company that is here in terms of making sure a presence is here for anybody who wants to find out what they are buying and selling, we have to find out with the s.e.c. filings. i guess it is more what they have been doing is selling down that stake i guess it is news to us >> we have to let you go you will give us a full breakdown on "squawk box." warren buffett emphatic that cash is not trash. i don't know if you talked to him more about it. he was emphatic about it what wdid you make about that? >> i think he has seen things before and been through decades of the markets and investing

when people get to the doomsday talk, he is a little more reflective with the passage of time and what america has gone through in the past. i don't think he is nearly as concerned about a debt default we will talk about that on "squawk box. for all of the concerns and woes and oh, no, where are we headed, he looked at it from a longer perspective and thinks eventually making every other decision and american politicians will make the right decisions and make sure we keep our standing in the world. >> becky quick, looking forward to "squawk box." thank you. ahead here on "wex," the one word everyone needs to know and victoria greene lays out a busy week ahead and the energy name high on her shopping list. more on "worldwide exchange" after the break.

at morgan stanley, old school hard work meets bold, new thinking, ♪ to help you see untapped possibilities and relentlessly work with you to make them real. ♪ what if you could make analyzing a big bank's data... no big deal? go on... well, what if you partner with ibm and red hat, use a hybrid cloud solution to connect data across multiple systems globally, then analyze all that data with watson. okay, but this needs to meet our... security standards? yup. compliance standards? mm-hmm. so they get the insights they need... yup. in real time... check. . ..to make quick decisions? check. aaaand check. that's the hybrid cloud solution ibm and a global bank created. what will you create? ibm. let's create.

(bobby) my store and my design business? we're exploding. what will you create? but my old internet, was not letting me run the show. so, we switched to verizon business internet. they have business grade internet, nationwide. (vo) make the switch. it's your business. it's your verizon. welcome back to "worldwide

exchange." six stories you need to know before the opening bell. we start with janet yellen warning of economic chaos should the u.s. default on the debt obligations come june 1st. this as congressional leaders meet with president biden tomorrow. amc reached a deal to pay down the debt. the settlement must be approved by the judge with the hearing scheduled in june. and biden administration is looking for airlines to come up with rules to compensate passengers over delays or cancellations. and binance temporarily resumed bitcoin transactions baidu will reveal the first smartphone next week and put

a.i. in all products the ceo of five groups are pushing back on the regulations from brussels over the use of personal data. siemens and s.a.p. and others say the data act would force them to give up trade secrets and give an advantage to china we spoke with a company ceo, brainlab, earlier. >> it would achieve a better access to data which is a good idea by having regulation than it would make it difficult to achieve that the idea is right, but overregulation achieves the opposite >> a story to waectch here on "worldwide exchange. we have data on wholesale trade and paypal tomorrow, leaders meet with

president biden on the debt cei ceiling. we get earnings from fox and airbnb we have april cpi and the apple developer conference we get earnings from toyota and disney on thursday, jobless claims and ppi figures with the uk interest rate decision and fed balance sheet. on friday, data on consumer sentiment and first quarter balance sheets let's bring in victoria greene of g squared good to see you. >> good morning, frank. >> victoria, we ask people to describe the trading day ahead what is your word of the day >> mine is buffetted you should prepare to baton the

hatches. as they said tat the meeting, be prepared to do more with less. everybody should be prepared for bu buff buffetting >> is there any place you are recommending to hide out and protect your portfolio >> we like quality and dividends. boring you want to be defensive, not offensive. mega caps are good we think there are potentials with the rate hike in june which is a surprise. we have to see what the data has to say you don't want to chase. we never had a market that bottoms out before the rate cuts happen right now, small caps and em is struggling you want to stay boring. buffett said cash is not trash cash is king diversify and be patient

warren buffett talked about the best time is opportunity because that is the time somebody else is doing something dumb. try not to be the dumb person losing to warren buffett >> when somebody that bright says people are doing dumb stuff. that is hard to ignore he did not have plans to takeover objeccidental. >> it has been range bound right now. we are in the push/pull between the constraint supply. the demand picture is murky with china coming back online we see integrated oil and exxon and chevrons of the world did well they relied on refining.

occi or devon is at risk depending on the hedges. i know the occi shareholders were disappointed warren is the not taking over. he has a strong position and he thinks long term when oil is trading sideways, you are trading in the eps you are willing to wait and there are quality companies on the balance sheets because of what they have been doing. >> i want to talk about where you put money to work right now. one pick today is skyworks solution reports after the bell tell me why you are bullish. >> it is a great chip company. they do the deals with almost all the large companies. apple and samsung. apple is the biggest -- sorry. one of the biggest customers when you look at them and realize apple sales were better

than realized, you can see 14% year over year reduction in earnings this is a quality company and diversified and foothold you have industrials and self-driving cars. 2/3 of revenue is in the mobile sector buffett talked about that. we would rather give up our car than smartphone, 100%. >> victoria, thank you before we go, one look at futures. the nasdaq inching closer to being flat it was down this morning the dow and s&p both in the green. that's it for "worldwide exchange." we have "squawk box" and becky quick in omaha with the full breakdown coming up next ♪ the biggest ideas inspire new ones.

30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ as a business owner, your bottom line ♪ is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network, with no line activation fees or term contracts... saving you up to 75% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities™.

good morning time is running out. debt ceiling showdown. a new warning from janet yellen on the looming deadline and potential for economic can catas catastrophe. and the biden administration looking to crackdown on the airline delays and cancellations. becky is in omaha with the highlights on the warren buffett investments and take on the economy and a.i. and anlot more it is monday, may 8th and "squawk box" begins right now. good morning welcome to "squawk box"